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Highlights

  • AOV’s share price increased 3.16% to AUD 9.47 on Wednesday morning after the release of its FY25 results.

  • The company reported a Net Debt/Adjusted EBITDA ratio of 1.9 as at 30 June 2025, with unused borrowing facilities of AUD 160.3 million.

  • A fully franked final dividend of 22.0 cents per share was declared, with total shareholder returns of AUD 105.4 million through dividends and buybacks.

Amotiv (ASX:AOV) shares rose 3.16% to AUD 9.47 on Wednesday morning after the company reported its full-year results for FY25, highlighting its financial performance, continued shareholder returns, and a positive FY26 outlook. The company declared a fully franked final dividend of 22.0 cents per share and returned a total of AUD 105.4 million to shareholders through dividends and buybacks.

Financial Performance in FY25

Working capital of AOV increased in FY25, supported by higher revenue and the processing of one-off historical rebate claims. Debtor factoring with one customer remained in place, with levels marginally lower than those at 31 December 2024.

Net debt increased by AUD 53.3 million over the year, primarily due to a share buyback program totalling AUD 48.7 million and the investment in working capital. The company reported a Net Debt/Adjusted EBITDA ratio of 1.9 at 30 June 2025, higher than the previous year due to these factors.

The Group stated that it retained significant headroom within its funding arrangements and remained in compliance with all covenant requirements throughout FY25. Unused borrowing facilities stood at AUD 160.3 million at year-end, with no drawn debt maturing within the next 12 months.

A fully franked final dividend of 22.0 cents per share was declared, consistent with the prior year and within the targeted payout ratio. In total, AUD 105.4 million was returned to shareholders during the year through dividends and share buybacks.

Trading Update

In its July update, AOV reported that its PTU “wear and repair” segment remained stable, with forward workshop bookings holding at approximately one to two weeks. LPE AU Resellers and OE Channels continued to be subdued, while revenue momentum persisted in the US and EU markets. ANZ PU sales recorded a marginal increase during the period.

Outlook for FY26

The company expects Group revenue growth in FY26, with underlying EBITA forecast at approximately AUD 195 million, in what it anticipates will remain a challenging operating environment. The core wear and repair categories are expected to maintain stability, while cyclical headwinds in ANZ are anticipated to continue.

Pricing actions are planned to support gross margins, and Wave 1 Amotiv Unified Net benefits are projected to deliver approximately AUD 10 million in EBITA. These gains are expected to be partially offset by combined impacts of incentives and US tariffs estimated at around negative AUD 8 million.

AOV expects FY26 cash conversion to align with its capital allocation framework and plans to complete its 5% SOI buyback program by the 24 October 2025 AGM. The company has stated that it intends to maintain its balance sheet position, with deleveraging anticipated in the second half of the year. An update will be provided at the October 2025 AGM.